Platts proposes new US Southeast ferrous scrap assessments

Platts, part of S&P Global Commodity Insights, proposes the launch of two new daily ferrous scrap price assessments for the US Southeast, effective May 15, 2024.

The new assessments would complement existing Platts scrap coverage and reflect growing demand for scrap in the Southeast, as new steelmaking capacity continues to expand in the region.

The assessments would reflect domestic plate and structural and heavy melting 1/2 scrap purchased in minimum 1,000 lt parcels, delivered to Southeast mills within 30 days.

The new assessments and their specifications would be as follows:

The new daily US Southeast price assessments would be timestamped to 3:30 pm US ET.

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications of value.

In the absence of observable spot market activity, Platts may consider other verifiable data reported.

Platts observes direct market activity as well as the effect of movements in related markets through spread differentials, for example.

A full description of Platts price assessment methodology can be found here.

The new prices would be published on Platts Connect, Platts Market Center, on Platts Steel Alert fixed pages 1318 and 1362, in the publications Steel Markets Daily and Steel Business Briefing, and in the Platts price database.

Platts welcomes feedback on the proposed assessment launches, including the minimum volume requirement of 1,000 lt.

Please submit any feedback, comments, or questions to MetalsAmericas@spglobal.com and pricegroup@spglobal.com by April 9, 2024.

For written comments, please provide a clear indication if the comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.